The report called Securing the Blockchain had 134 market participants questioned, of which 56% said that transaction confidentiality was a significant security concern with blockchain technology. When it came to banks and brokers that number was slightly higher with 63% concerned.
Experts believe that the Bitfinex hack which saw hackers steal USD 70 million worth of users’ bitcoins and the attempted hack of USD 50 million worth of Ether on the DAO have brought the security of blockchain to the forefront of discussion.
According to Richard Johnson, VP of market structure and technology at Greenwich Associates, technology companies developing permissioned blockchains for financial services will need to rethink the multi-sig/cold storage approach that is currently employed by digital currency exchanges.
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